Obamacare will begin costing employers a fair amount of money, $1 at a time, beginning this summer, the CliftonLarsonAllen consultancy is advising credit unions.
Beginning July 31, employers who offer various benefit plans must pay the equivalent of $1 per covered life per year to fund the Patient-Centered Outcomes Research Institute, which was established by the Patient Protection and Affordable Care Act.
The IRS has ruled that issuers and plan sponsors are responsible for the fee, and that it will be treated like an excise tax, CliftonLarsonAllen said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
